Benugo returns to profitability following strong 2022 trading

Benugo operates cafés and restaurants in prominent high street and public space locations | Photo credit: Benugo

Strong trading in 2022 has positioned Benugo as a ‘more streamlined, focused and profitable company’, the London-based café chain has said.  
 

Benugo’s sales more than doubled in the 12 months ended 28 December 2022 compared to the previous year, reaching £98.7m ($128m). However, revenues remain 18% below pre-pandemic levels. 

The hospitality brand, which operates cafés in high street, public spaces and workplace settings, also reported a pre-tax profit of £3.7m ($4.8m) compared to a loss of £1.4m ($1.8m) the previous year. 

In a report accompanying its accounts, Benugo said pandemic restrictions and the end of furlough support schemes in the UK negatively impacted its profits in the first two months of 2022. The business consequently ‘rationalised’ its outlets and closed underperforming sites to become more efficient and profitable. 

“We firmly believe that the hard work through both the pandemic and our rapid recovery over the course of 2022 puts us in an incredibly strong position for the year ahead,” Benugo’s directors said in a statement. 

Founded in 1998, Benugo currently operates 16 cafés across the UK, including nine within John Lewis department stores. 

The business also operates more than 30 coffee shops and restaurants in some prominent public spaces and venues, including London Zoo, The Natural History Museum and London Coliseum. 

Benugo is owned by UK-based hospitality group WSH, which also manages European foodservice provider BaxterStorey and 12-strong London coffee shop and wine bar concept Notes, which it acquired for an undisclosed sum in November 2022. 

WSH’s 2022 total revenues increased 66% year-on-year to £975m ($1.2bn), 5% higher than pre-pandemic levels.